Business
Euronet Reports Fourth Quarter and Full Year Financial Results
LEAWOOD, Kan., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading global financial technology
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"LEAWOOD, Kan., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, reports fourth quarter and full year 2023 financial results. Euronet reports the following consolidated results for the fourth quarter 2023 compared with the same period of 2022: Revenues of $957.7 million, an 11% increase from $865.7 million (7% increase on a constant currency1 basis).Operating income of $97.4 million, a 23% increase from $79.1 million (22% increase on a constant currency basis).Adjusted operating income2 of $99.9 million, a 26% increase from $79.1 million (25% increase on a constant currency basis). Adjusted EBITDA3 of $147.6 million, a 16% increase from $127.0 million (14% increase on a constant currency basis).Net income attributable to Euronet of $69.3 million, or $1.43 diluted earnings per share, compared with $67.7 million, or $1.31 diluted earnings per share.Adjusted earnings per share4 of $1.88, a 35% increase from $1.39.Euronet's cash and cash equivalents were $1,254.2 million and ATM cash was $525.2 million, totaling $1,779.4 million as of December 31, 2023, and availability under its revolving credit facilities was approximately $661.2 million. Euronet reports the following consolidated results for the full year 2023 compared with the same period of 2022: Revenues of $3,688.0 million, a 10% increase from $3,358.8 million (9% increase on a constant currency basis).Operating income of $432.6 million, a 12% increase from $385.4 million (12% increase on a constant currency basis).Adjusted operating income of $432.1 million, a 12% increase from $385.4 million (11% increase on a constant currency basis).Adjusted EBITDA of $618.7 million, a 9% increase from $565.3 million (9% increase on a constant currency basis).Net income attributable to Euronet of $279.7 million, or $5.50 diluted earnings per share, compared with $231.0 million, or $4.41 diluted earnings per share. Adjusted earnings per share of $7.46, a 15% increase from $6.51. See the reconciliation of non-GAAP items in the attached financial schedules. \"I am pleased we exceeded our guidance, driven by strong performance in all three segments, together with benefits from improved foreign exchange rates against the US dollar and a lower tax rate. We delivered record...